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Earnings continue to exceed historical levels, according to the most recent Haig Report.
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Sale sets record for the highest blue-sky value ever paid for a single dealership, regardless of franchise.
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Dealership profits have peaked due to rising interest rates, inflation, and low consumer confidence, but they are still 2.4x higher than before the Pandemic.
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Sterling McCall Hyundai is its sixth dealership located in the US, all in Texas. The dealership will be rebranded Steele South Loop Hyundai.
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The report explains how dealership profits have tripled along with demand from dealership groups that want to acquire more stores.
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Highlights include a significant spike in dealership profits and skyrocketing demand from dealership groups that want to acquire more stores.
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Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.
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Haig Partners announced the addition of John Davis, former partner with DHG Dealerships, as managing director.
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A survey of Automotive News’ top 150 U.S. auto retailers finds per-copy averages grew 4.6% to $1,482 in 2018, fueling a 7.5% increase in total F&I revenue.
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